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How Healthy Is Your Nest Egg?

We recently ran across an advertisement for an insurance company that included this fact: “Hallmark sold 85,000 ‘Happy 100th Birthday!’ cards last year.”

That’s certainly something to think about. The ad also said that the average American is living about 20 years past the age of 65 (87 for women, and 84 for men). That’s a lot of years, post-retirement, that consumers need to plan for, and a recent survey indicates that many seniors aren’t considering basics like health and medical costs when they’re saving for the golden years.

According to a national survey of 1,000 Americans over the age of 65 conducted by Directive Analytics, more than half of retirees (55 percent) have said they completely overlooked their health care and prescription drug needs when planning for retirement expenses, and one in three seniors said their medical or drug costs surpass their expectations, and are taking away from their “golden years” lifestyle.

The good news is that there are plenty of resources out there to help seniors who may be looking for ways to cut their health costs. Consumer Reports Best Buy Drugs helps consumers find the most effective and safe drugs with the most value for your dollar. Also, Medco Health Solutions, Inc., is offering a free guide including tips about shopping for Medicare plans, saving on prescription refills, and avoiding medication duplication.